10x Genomics (NASDAQ:TXG) Trading Down 10.3%

10x Genomics, Inc. (NASDAQ:TXGGet Rating) traded down 10.3% on Thursday . The company traded as low as $35.49 and last traded at $35.54. 29,102 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,429,641 shares. The stock had previously closed at $39.62.

A number of equities research analysts have recently weighed in on the company. Cowen dropped their price objective on 10x Genomics from $205.00 to $145.00 in a research note on Thursday, February 17th. Citigroup dropped their price objective on 10x Genomics from $150.00 to $100.00 in a research note on Thursday, May 5th. Finally, The Goldman Sachs Group lowered their target price on 10x Genomics from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.17.

The company has a market capitalization of $4.19 billion, a PE ratio of -45.08 and a beta of 1.91. The stock has a fifty day simple moving average of $51.61 and a 200-day simple moving average of $84.52.

10x Genomics (NASDAQ:TXGGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.01). 10x Genomics had a negative net margin of 17.85% and a negative return on equity of 11.10%. The firm had revenue of $114.50 million during the quarter, compared to analysts’ expectations of $113.33 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts anticipate that 10x Genomics, Inc. will post -0.91 EPS for the current fiscal year.

In related news, CFO Justin J. Mcanear sold 967 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $48.76, for a total value of $47,150.92. Following the transaction, the chief financial officer now owns 59,079 shares in the company, valued at approximately $2,880,692.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 1,264 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $48.76, for a total value of $61,632.64. Following the completion of the transaction, the insider now owns 187,538 shares in the company, valued at approximately $9,144,352.88. The disclosure for this sale can be found here. Insiders sold a total of 4,887 shares of company stock valued at $238,290 over the last three months. Company insiders own 11.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXG. D1 Capital Partners L.P. acquired a new position in 10x Genomics during the 4th quarter worth approximately $239,081,000. Sands Capital Management LLC increased its position in 10x Genomics by 92.4% during the 1st quarter. Sands Capital Management LLC now owns 3,201,394 shares of the company’s stock worth $243,530,000 after purchasing an additional 1,537,427 shares during the period. Baillie Gifford & Co. increased its position in 10x Genomics by 24.1% during the 4th quarter. Baillie Gifford & Co. now owns 6,878,377 shares of the company’s stock worth $1,024,603,000 after purchasing an additional 1,335,752 shares during the period. BlackRock Inc. increased its position in 10x Genomics by 14.2% during the 1st quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock worth $696,572,000 after purchasing an additional 1,138,358 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in 10x Genomics during the 4th quarter worth approximately $111,655,000. Institutional investors own 76.25% of the company’s stock.

10x Genomics Company Profile (NASDAQ:TXG)

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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